Pricing Your Home to Sell
Pricing your home is one of the most important items when choosing to sell your home and doing this wrong can be a costly mistake. You have to consider more than just the price to do this properly. The condition of your home, average market time for your area, availability for showings and the competing homes can all play a big role in choosing the proper price.
To accurately determine the right price for your home you need to find current prices for comparable homes in your area, as well as find recent comparable sales in your area, and know the demand for housing in your area.
Here are some helpful steps to help you select the appropriate price when selling your home:
Step #1: Measure Your Home
Measure your home against similar homes in your area that have recently been sold or currently are for sale.
Step#2: Compare Features
Find what features either make your home stand out against the comparable homes or maybe appear not as attractive. Items such as square footage, number of bedrooms, number of garage spaces and lot size can make a big difference. Buyers will be comparing your home to these others, so it's a good idea to do so yourself.
Step#3: Cosmetic Fix-Up's
Determine what cosmetic fix-ups you can complete to make your home more appealing than the competition but without spending too much. You don't want to invest money you will not recoup when you sell your home. This will highly increase the marketability of your home.
When Pricing Remember:
The right price is usually within 5% of the market value. If you select a price that is too high the home will have little interest and few showings. If the price is too low there will be many buyers and you will miss out on potential profit.
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